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S&P rates Blucora loan BB-
S&P said it assigned a BB- rating on Blucora Inc.
The outlook is positive.
The agency also said it assigned a BB- rating and 3 recovery rating to Blucora's new senior secured term loan B and revolving credit facilities. The 3 rating indicates 50% to 55% expected default recovery.
S&P also said it affirmed the ratings on subsidiaries TaxACT and H.D. Vest and revised their outlooks to positive.
Blucora is the holding company for TaxACT and H.D. Vest.
The ratings reflect the group's fair operating positions in competitive markets, the agency said.
Ratings strengths include the group's relatively stable profits, product diversification and adequate liquidity, the agency said.
The group's adjusted debt-to-EBITDA is expected to remain at more than 3x over the next 12 months, S&P said.
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